As our population ages, more Americans find themselves in the role of caregiver for their elderly parents... often before they have completely graduated from parenting their own children.
Clients who care for aging parents need more than financial and tax help from advisors.
A recent issue of Financial Advisor Magazine encourages trusted financial advisors to help their clients with caretaker challenges. Advice includes helping ensure all necessary legal documents are in order (for both the caretakers and their charges), finding financial assistance to hire help, and investigating the role of long term care insurance.
Reference: Financial Advisor Magazine (October 2011) "Caretaker Challenges."
